Changes

[[John F. Kennedy]]'s fiscal policy stance made it clear that he believed in pro-growth, supply-side tax measures.<ref>http://www.heritage.org/research/reports/2004/06/the-laffer-curve-past-present-and-future</ref>

[[John F. Kennedy]]'s fiscal policy stance made it clear that he believed in pro-growth, supply-side tax measures.<ref>http://www.heritage.org/research/reports/2004/06/the-laffer-curve-past-present-and-future</ref>

These ideas were taken up as a popular political movement during the 1980 election campaign, with [[Ronald Reagan]] proposing a modified policy of supply-side economics (although [[liberals]] disparagingly used the term "trickle-down" economics)--a term they have used against conservatives since [[William Jennings Bryan]] in 1896.<ref>[http://www.investopedia.com/articles/05/011805.asp Understanding Supply-Side Economics], David Harper</ref> The decreased regulation begun in the late 1970s, together with lower marginal tax rates would provide enough savings and investment to pool new capital and drive economic growth. Manufacturers for example, would hire more people, produce more, and create more [[demand]] and economic activity.  The idea gained wide popular support, and became known as "Reaganomics".  

These ideas were taken up as a popular political movement during the 1980 election campaign, with [[Ronald Reagan]] proposing a modified policy of supply-side economics (which [[liberals]] disparagingly caricatured as "[[trickle-down]]" economics)--a term they have used against conservatives since [[William Jennings Bryan]] in 1896.<ref>[http://www.investopedia.com/articles/05/011805.asp Understanding Supply-Side Economics], David Harper</ref> The decreased regulation begun in the late 1970s, together with lower marginal tax rates would provide enough savings and investment to pool new capital and drive economic growth. Manufacturers for example, would hire more people, produce more, and create more [[demand]] and economic activity.  The idea gained wide popular support, and became known as "Reaganomics".  

During the presidential campaign of 1980, Ronald Reagan argued that high [[marginal tax rates]] were hurting economic output, but contrary to what many people think, neither Reagan nor his economic advisers believed that cuts in marginal tax rates would increase [[tax revenue]].<ref>[http://www.econlib.org/library/Enc/SupplySideEconomics.html Supply-Side Economics] - James D. Gwartney, The Concise Encyclopedia of Economics</ref>

During the presidential campaign of 1980, Ronald Reagan argued that high [[marginal tax rates]] were hurting economic output, but contrary to what many people think, neither Reagan nor his economic advisers believed that cuts in marginal tax rates would increase [[tax revenue]].<ref>[http://www.econlib.org/library/Enc/SupplySideEconomics.html Supply-Side Economics] - James D. Gwartney, The Concise Encyclopedia of Economics</ref>